Let’s talk about ASIC mining

WOW you’re WAY OFF!
This state will allow you to pay your income tax with bitcoin or Litecoin

Lets pay BILLS!!!

Actually , my credit card is NOT connected to my bank account, it is a complete separate entity. I may pay my bills through online bill pay, but my CC is not linked my checking or saving account.
Let’s make one thing very clear about fiat, that paper and coin you use, is just note and is just a piece of metal that is given value by the government based on the amount of gold they have to back its worth.

and lets NOT forget the country’s that says cryptocurrency is its official currency

Guys I hate to say it… but we are off topic. Please start a new thread for this line of discussion and ask a mod to move it…

Agree @Kahooli

@johnwisdom feel free to make a separate thread and I will move the conversation.

but shawn, if all of that is off topic, isn’t your picture of this looks photoshopped offtopic as well? :wink: :smile:

Yes and no, :slight_smile: it’s still talking about ASICs (or a funny Photoshop of Bitmain facilities)

Update, also cross-posted to What happened at the Zcon0 mining workshop (and more...)

Sep 28, 2018:

https://www.coindesk.com/ethereum-security-lead-joins-effort-to-oust-blockchains-big-miners/

In an developer meeting Friday, Martin Holst Swende, security lead at the Ethereum Foundation, said he supports swift action to remove ASIC mining hardware from the ethereum platform. Joining the non-profit in 2016, Swende now works to ensure code changes do not disrupt or harm operations on the world’s second-largest blockchain.

Sep 19, 2018 (see thread)

Ethereum core developer:

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Here are two articles explaining ProgPOW in case some thread participants are unfamiliar with it. I had an idea similar to it. I just didn’t have the knowledge to do it. :disappointed_relieved:

That would be incredibly nice, but I highly doubt it will ever happen…

Anyone mining on the testnet? Its at 60ks (somebody is)

The big picture is that Ethereum’s security lead and other core developers have reached the conclusion that it is in the best interest of the network to remove the influence of ASICs as soon as possible, while proof-of-work mining is still being used, even though proof-of-stake is just around the corner.

This is pretty much what I suggested a few months ago:

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I don’t know bitcartel.
It seems like the wild west of words but little to no actions.
I would be more than amazed to see ETH team move to ProgPow under a year.

EDIT: I’ve got many GPU’s and I would be more than happy for an anti-ASIC fork

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Sia have decided to hard fork to brick all the current Bitmain and Innosilicon ASICs see https://blog.sia.tech/sia-proof-of-work-reset-24b5ec439625

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I’m not sure how anyone should really feel about this. SIA actually openly chose the path to ASIC, were even developing their own. They got beat out by Bitmain and Innosilicon…not surprising. But now they are going to turn around and brick ALL the ASIC off. How should SIA miners actually feel about it? Does anyone wonder was it only ok for ASIC if the ASIC controlled by the Devs dominated? Is that a good thing? Is that a bad thing? I get it they feel like Bitmain/Innosilicon did something underhanded to the community. The article says this will be good for the coin as it will help eliminate single points of failure…but their original plan was their hardware to be that single point of failure. How is one any better than the other?

I just don’t know how I feel about it to be honest…what came, passed, and the now…it is of their own doing.

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They aren’t bricking all ASICs just all non-Obelisk ASICs.

That is even worse @garethtdavies. That’s essentially saying the current centralization isn’t “our” kind of centralization. How can you (by you I mean Sia) justify “your” hardware being the “only” hardware that should be allowed on a network?? Seems to me that is trying to correct what you (Sia) perceives as a mistake, with an even bigger one. If a coin is going to constrain and control it that much…then why have it mineable at all? Why not just be pure PoS, or simply power the network yourself, or with nodes you “vetted and trust” for that matter?

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Yeah dude, decentralization is thrown around a lot, at least ZEC will admit to the centralized aspect it currently holds till the halving
Dont get out of the boat

I’m less worried about ZEC than I am concerned with what “in my perception” for SIA is one bad decision after another. How could anyone trust a dev team that is essentially saying the only ASIC hardware allowed is the devices “we” sell you.

I give ZcashCo and the Foundation more credit than that. They made it clear early on in the ASIC debates that developing their own ASIC was looked at, but it wasn’t feasible really, nor was it something they really wanted to be involved in. (Right choice in my meager opinion).

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Sorry, yeah I’m not super familiar with SIA other than articles about their Asic release and such, it does seem strange but well just have to wait and see how it goes i guess

@garethtdavies @moordrik

From the article:

We believe that an ASIC manufacturer monopoly is strongly preferable to being a GPU mined coin.

We encourage all manufacturers to add secret extra circuits that can act as failsafes.

So the pipe dream of a competitive market for ASICs has now revealed itself to be a dystopian nightmare of backdoored mining hardware from a ruling oligarchy.

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This is the history of the chip business. It’s capital intensive and brutal. It’s not new and not specific to ASICs. General purpose: high vol/low margin vs. specific purpose: low vol/high margin. Intel vs. SGI. Take no prisoners. It’s not a dystopian nightmare or some grand conspiracy. It’s just paths to profit and different time horizons for different business models coupled with nascent cryptocurrency adoption. If we assume the generals are all working in the best interest of the common good, we fail. The “little guy” is a mining farm in northern Europe with 1M+ GPUs with unique and exclusive access to cheap power. In order for this to work, all parties must be able work in their own selfish best interest. It’s not evil. It’s both difficult and beautiful.